Daldrup & Söhne AG awarded contract as general contractor for deep geothermal doublet near Munich

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 Daldrup & Söhne AG awarded contract as general contractor for deep geothermal doublet near Munich

• Order value of around EUR 16.8 million
• Customer receives substantial funding from the German Federal Government's Efficient Heating Networks (BEW) program

Oberhaching / Ascheberg, August 25, 2025 - Daldrup & Söhne AG (ISIN DE0007830572), a drilling technology and geothermal energy specialist, has been awarded a contract as general contractor worth around EUR 16.8 million by Amperland Thermalwärme GmbH (ATW), a subsidiary of the joint municipal waste management company A.ö.R. (GfA)[1], based in Olching, northwest of Munich. Daldrup will drill two deflected deep geothermal wells with drilling lengths of around 2,430 m and 3,300 m on the site of the Geiselbullach cogeneration plant. Work on the construction of the drilling site is scheduled to begin in September 2025. According to the schedule, drilling is to be carried out from December 2025 to May 2026.

Andreas Tönies, CEO of Daldrup & Söhne AG, commented on the contract: "It is impressive to see the determination with which the cities and municipalities around Munich are pushing ahead with the heat transition for their citizens. We at Daldrup & Söhne AG are proud that ATW Olching is also relying on our specialized drilling expertise for the geothermal development of aquifers. This is a significant step for regional energy supply with fuel-independent heat. The geological layers in the molasse basin are now very well known and suitable for using deep thermal water to extract heat in a cycle system for local and district heating networks. We are already in talks with other potential municipal and private-sector clients."

ATW has received a grant of EUR 8.8 million for the financial implementation of the geothermal project. The money comes from the Federal Government's Effective Heating Networks (BEW) program. This project will enable the further expansion of the Olching municipal utility company's district heating network and, for the first time in Germany, combine thermal waste utilization with geothermal energy to expand the district heating supply in the region in a climate-neutral manner.

About Daldrup & Söhne AG

Daldrup & Söhne AG (ISIN: DE0007830572, WKN: 783057) with a company history of more than 75 years is a specialised provider of drilling and environmental services and is positioned among the leading companies in Germany. Its activities are divided into the business areas Geothermal, Resources & Exploration, Water Extraction and Environment, Development & Services (EDS). In the Geothermal Energy business sector, drilling services are provided both for near-surface geothermal energy (especially geothermal probes for heat pumps), but above all also drilling services for deep geothermal energy of up to 6,000 m, in order to use the geothermal energy thus accessible for the generation of electricity and/or heat. In the Raw Materials and Exploration business sector, the wells drilled by Daldrup & Söhne AG are used for exploration as well as mineral raw materials and ores (e.g. copper and gold). This division also provides drilling services in the context of finding a safe final repository for nuclear waste. The Water Extraction business area includes well construction for the extraction of drinking, industrial, medicinal, mineral, boiler feed or cooling water as well as thermal brine. The business area Environment, Development & Services (EDS) comprises special environmental engineering services such as the hydraulic remediation of contaminated sites, the construction of gas extraction wells for the extraction of landfill gas, the construction of groundwater quality measuring points or the construction of water purification plants.

The shares of Daldrup & Söhne AG are listed in the Scale (sub-segment of the Open Market of the Frankfurt Stock Exchange) and part of the Scale30 Index.

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Daldrup & Söhne AG

Falk von Kriegsheim

     Fon +49 (0)2593-9593-29

     Fax +49 (0)2593-9593-60

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^[1] GfA is the joint municipal waste management company (GfA) of the districts of
   Fürstenfeldbruck and Dachau, Germany.